Coronavirus update: Case and death tolls keep rising, but shock increase in U.S. jobs suggesting the worst may be over, for now American Airlines stock extends rally as travel demand improves; Elon Musk calls for Amazon breakup after online retailer briefly rejects book questioning pandemic risksWhile the number of confirmed cases that causes COVID-19 and death tolls keep rising, a “shock” increase in jobs and drop in unemployment in the U.S. in May add to signs suggesting the worst of the pandemic is over as the easing of lockdown measures continues nationwide.

Dow closes 800 points higher after jobs report shows surprise jump in payrolls, fall in unemployment rate U.S. economy added a surprise 2.5 million jobs in May, unemployment rate fell to 13.3%Stocks close sharply Friday after the U.S. May jobs report showed a surprise 2.5 million jump in payrolls and a drop in the unemployment rate to 13.3% as businesses began to reopen from the COVID-19 pandemic lockdowns.

European stocks higher as investors wait for U.S. payrollsEuropean stocks were rebounding on Friday, headed for what could be the best weekly return since early April. Stocks fell Thursday after the European Central Bank expanded its pandemic emergency purchase program by a bigger-than-expected amount, and President Christine Lagarde lowered growth and inflation forecasts. The Stoxx Europe 600 rose 0.7%, the German DAX rose 1.1% and the FTSE 100 index rose 0.8%. Shares of Deutsche Lufthansa AG rose 1.2%, but the struggling airline will be dropped from the DAX as of June 22. In that space, Internatioal Consolidated Airlines Group jumped 8.5% and easyJet PLC climbed nearly 9%. Dow futures climbed over 200 points, also indicating a rebound from a lackluster session on Thursday. Investors were waiting on a labor market report that's expected to reflect soaring jobless losses due to the coronavirus pandemic.

Gold marks first gain in 4 sessions on weakness in U.S. dollar and stocks Dollar falls as euro gains after ECB decision to raise size of its Pandemic Emergency Purchase ProgramGold prices rise on Thursday, posting their first gain in four sessions, buoyed by some weakness in the U.S. stock market and dollar, as investors digested policy actions by the European Central Bank.

Pandemic bond-buying program is now ECB’s real crisis-fighting ‘bazooka,’ analysts say ECB’s Lagarde ties PEPP program expansion to inflation concernsIf there was any doubt, Christine Lagarde made clear Thursday that the now-€1.35 trillion pandemic-inspired asset-buying program is likely to remain a key component of the European Central Bank’s crisis-fighting arsenal, economists said.

ECB expands PEPP asset-buying program to 1.35 trillion eurosThe European Central Bank, as expected, boosted the size of its Pandemic Emergency Purchase Program on Thursday. The ECB said the envelope for asset purchases was increased by 600 billion euros ($674.5 billion), to 1.35 trillion euros. The program is now set to run through at least the end of June 2021, versus the end of 2020, while maturing principal payments from assets purchased under the plan will be reinvested until at least the end of 2022, the ECB said. The ECB left interest rates unchanged, with the deposit rate at -0.5% and the main refinancing rate at 0%. ECB President Christine Lagarde will hold a news conference at 8:30 a.m. Eastern.

Germany agrees to second pandemic aid package worth €130 billionThe new bundle, agreed to on Wednesday after extensive talks between Chancellor Angela Merkel’s conservatives and their junior coalition partner, the center-left Social Democrats, included measures worth €130 billion for 2020 and 2021.

10-year Treasury yield hits 8-week high on global equity gains and economic dataTreasury yields climb on Wednesday in line with the buoyancy in global equity markets as investors eye the easing of lockdown measures, while largely disregarding the civil unrest roiling the country.

Top Swedish scientist admits Sweden ‘quite clearly’ could have handled the pandemic better Sweden has one of the highest death rates per capita in the worldSweden’s chief epidemiologist showed contrition Wednesday as criticism mounted over the Scandinavian country’s hotly debated method of fighting the coronavirus, which has resulted in one of the highest death rates per capita in the world.

Trump threatens trade war with Europe and others on digital services taxes. It’s unlikely to come to that.Investors and businesses need to remember last year’s French wine and cheese war — which actually didn’t happen.

European stocks rise for third straight session, with investors cheered by China data Renault, TUI lead gains European stocks extended gains for a third day on Wednesday as investors looked past U.S. unrest to data indicating more economic strength as global pandemic lock downs unwind.

European stocks extend gains for third-straight sessionEuropean stocks were poised for a third day of gains on Wednesday, as upbeat economic data helped investors set aside concerns over U.S. domestic unrest. The Stoxx Europe 600 index climbed 0.7% and the German DAX index gained 0.9%. A private gauge of China's service sector activity showed a sharp rebound, as investors waited for PMI services data out of Europe and unemployment data. In the U.S., protests against the death of an unarmed black man by a white police officer continued, and earlier curfews were largely ignored, but President Donald Trump appeared to back away from a threat to send the military to the streets. Dow futures [S: YM00] rose 124 points, with investors waiting for a private-sector payrolls survey due later.

‘No-deal’ Brexit raises its ugly head againU.K. has to decide before the end of June whether or not it wants to request an extension beyond December for the so-called “transition period” it entered on Jan. 31 when the country formally left the European Union.

PMIs in Europe show businesses doing worse open than closed — if taken literallyHow can a company be doing worse open than when it is closed? That’s the puzzle presented on Monday by the latest round of purchasing managers index readings across the globe, showing still depressed conditions.

Too few babies and immigrants threaten American growth Our prosperity and national security depend on having more working-age AmericansAmericans are having too few babies and not admitting enough immigrants to sustain prosperity and national security.

We’re at month 2: Tracking the Fed’s efforts to keep credit flowing during the coronavirus pandemic New York’s MTA wants access to municipal facilityThe Federal Reserve is promising it has more firepower to use if a second wave of coronavirus infections hit the U.S., as more states unfurl plans to reopen after roughly two months of lockdowns.

Can my investments survive a crisis if I retire early? It did for these early retirees living in Mexico ‘The FIRE lifestyle prepares one for situations like COVID, in that we are already living within our means and have no debt’‘The FIRE lifestyle prepares one for situations like COVID, in that we are already living within our means and have no debt.’

It’s ‘no fun’ to be a small fund manager most of the time, Jan van Eck says — but right now is an exception This CEO has some thoughts about the titans of the industry, including why they shouldn’t manage the Fed’s bond-buying programThe scion of a family firm founded on commodities mutual funds reflects on its rotation into exchange-traded funds, how to offer investors access to the asset class safely, and much more.

European stocks fall on rising U.S.-China tensions Renault and Rolls-Royce shares tumbleEuropean stocks fell on Friday, ahead of a press conference by U.S. President Donald Trump over China and amid rising tensions between the countries, first over the coronavirus and now over Beijing’s fresh crackdown on Hong Kong.

Dow books a 150-point loss after President Trump says he will hold Friday news conference on China U.S.-China tensions threaten economic recovery rally after three days of gainsStocks close lower Thursday, skidding into negative territory in the final hour of trade, after President Donald Trump said he would hold a news conference on China on Friday, rattling investors who had been enjoying a rally on optimism about an economic recovery from the coronavirus pandemic.

Hong Kong shares drop amid tensions with ChinaShares rose in Tokyo and Sydney, but fell in China and Hong Kong, where tensions are flaring over Beijing’s effort to exert more control over the former British colony.

European stocks climb as investors eye bigger-than-expected EU stimulus plan TUI and Renault among the big moversEuropean stocks climbed on Wednesday, amid reports the European Union will announce a bigger-than-expected €750 billion stimulus program for the region’s recovery efforts, and as investors continued to ride optimism over global recoveries.

ECB's Lagarde says Europe's pandemic slowdown probably won't be mildEuropean Central Bank President Christine Lagarde said the eurozone economy is likely to contract along the lines previously outlined in the bank's medium to severe scenarios, ruling out the "mild" possibility. The severe outlook is for a 12% GDP decline and the medium scenario is for a 8% drop, while the mild was for a 5% drop. Lagarde was holding a question and answer session in live webcast by the central bank.

European stocks rise amid investor hopes for bailout packageEuropean stocks opened higher on Wednesday, amid optimism over economic reopenings and speculation that the European Union will announce a massive stimulus program. The Stoxx Europe 600 index rose 0.4% to 350.36, the German DAX rose 0.3% and the French CAC 40 rose 0.5%. The European Commission is due to present its proposal for a bailout package, potentially backing efforts by France and Germany for a 500 billion euro fund to aid recovery efforts. Airline and travel shares extended Tuesday's gains, with International Consolidated Airlines Group SA up over 6% and TUI AG climbing 12%. U.S. stock futures indicated a stronger start for Wednesday, with Dow futures up over 150 points.

BlackRock portfolio manager says stock investors should watch out for these blind spots right now Critical information for the U.S. trading dayStocks are looking up for Tuesday, as investors get back to work after the Memorial Day weekend. Our call of the day says there is plenty that investors don’t understand right now, which could trip them up in future.

ECB chief economist says bottom was probably in AprilEuropean Central Bank chief economist Philip Lane said Tuesday that the eurozone economy hit a bottom in April. "I think it's clear by the way that the absolute bottom was probably in April," he said during an interview for an Institute for International Finance conference. He said the key uncertainty is what happens next year and how quickly economies can recover.

How the West can overcome the Chinese juggernaut The U.S. must articulate a clear vision of a new multilateralism China’s attempts to use money and materiel to extend its global influence illustrate Xi is happy to turn the crisis into his opportunity for greater global influence and his contempt for democratic institutions.

‘Project Birch’: Treasury draws up last resort bailout plan to rescue Britain’s largest companies‘Project Birch’ could see Britain’s Treasury step in to support key British companies whose failure will “disproportionately harm the economy

Bayer, Lufthansa drive gains in Europe amid holiday-thinned trading German Ifo business sentiment beats forecastsEuropean stocks rose to kick off the week on Monday, albeit with the action thinned by holidays in the U.K. and the U.S.

The U.S. is in ‘relative decline’ as ‘Chinese power is rapidly rising,’ warns Ray Dalio China and U.S. tensions are rising but will it lead to a hegemonic shift? Yes, says Bridgewater’s Ray DalioThe days of U.S. hegemony are numbered and China is waiting in the wings, argues Ray Dalio, in his most recent missive on LinkedIn.

Oil prices settle lower on fears about China turbulence, but score a weekly gain WTI oil futures gain nearly 13% for the weekOil futures settle lower Friday, with U.S prices breaking the longest winning streak since February 2019 on worries over fresh tensions between the U.S. and China.

Dow closes down 102 points as energy and tech stocks slump amid rising China tensionsU.S. stocks finish lower Thursday, with investors pointing to elevated tensions between Washington and Beijing and a stream of poor economic data, including another 2.4 million job losses on week, as contributors to lackluster buying mood on Wall Street.

Eurozone PMI reading improves in May as lockdowns easeThe IHS Markit flash eurozone composite purchasing managers index rose to a reading of 30.5 in May from 13.6 in April. Economists in a FactSet-compiled poll expected a 27.0 reading on a scale where any reading below 50 indicates deteriorating conditions. "The eurozone saw a further collapse of business
activity in May but the survey data at least brought reassuring signs that the downturn likely bottomed out in April," said Chris Williamson, chief business economist at IHS Markit. "Second quarter GDP is still likely to fall at an unprecedented rate, down by around 10% compared to the first quarter, but the rise in the PMI adds to expectations that the downturn should continue to moderate as lockdown restrictions are further lifted heading into the summer."

China focused on creating jobs as People’s Congress meets Huge pressure to get economy going again after coronavirus shutdownAs job losses surge, China is joining the United States and other governments in rolling out stimulus spending to revive its virus-battered economy.

Britain sells its first bonds at a negative interest rateThe U.K. on Wednesday became the latest country to sell bonds at negative interest rates, showing investor demand for government securities is so high than some are willing to pay for the privilege.

The fun stuff is getting more expensive during the pandemicComputer games, pizza, hamburgers and whiskey all increased in price during the pandemic, even as CPI fell, according to the latest U.K. data.

European stocks slip amid disappointment over coronavirus drugEuropean stocks opened lower on Wednesday, as investors expressed disappointment over a potential coronavirus vaccine. The Stoxx Europe 600 index , the German DAX and the FTSE 100 index all fell around 0.5% each. A report that dashed hopes over Moderna Inc.'s coronavirus vaccine candidate also left Asia stocks mostly weaker. That drug news drove a sharp rally for global equities at the start of the week. But U.S. stock futures indicated a rebound for Wall Street later, following Tuesday's weaker close. Shares of Marks & Spencer PLC jumped 5.7% after the retailer reported results.

Ninety percent of the world’s museums were closed by the coronavirus pandemic, and one in eight may never reopen Some are hobbled beyond repair by the loss of revenue, while others lack capacity to conform with new public health precautionsMuseums are starting to reopen in some countries as governments ease coronavirus restrictions, but experts warn that one in eight worldwide could face permanent closure due to the pandemic.

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